Home Mortgage Loans

Park State Bank offers many mortgage home loan options. Buying or refinancing a home can be a stressful event, but the experts at Park State Bank help you reduce the anxiety. We offer a streamlined process that keeps you in control. We offer the convenience of our 24/7 online application, the ability to apply in person or the ease of calling us with questions.

Take a look at our Mortgage Loan options on the left to find the right one for you.

Conventional Mortgage Loans

These more traditional loans can help you buy or refinance a home or other property.

Here are the benefits and details of a conventional mortgage loan:

Competitive fixed and adjustable interest rates

Low down payments

The seller may contribute toward the buyer's closing costs

Loans of up to 30 years

Can be used to purchase or refinance up to a four-unit property

Property can be occupied by the owner, investment real estate or a vacation or second home

Requires mortgage insurance in some cases

Up to $417,000 loan amount; loan amounts more than $417,000 are considered jumbo loans and also are available

FHA Mortgage Loans

Federal Housing Administration mortgage loans work well for first-time home buyers with limited down payment resources. The most common form of FHA loan is called a 203b.

Here are the benefits and details of FHA loans:

Competitive interest rates

Low down payments

Allow a lower credit score than conventional loans

All down payment and closing costs can be gifted

The seller may contribute to the buyer's closing costs

Must be used for owner-occupied properties

Must have mortgage insurance

Programs available for purchasing or refinancing

Maximum financing depends on the county in which you are buying; contact us for details

VA Mortgage Loans

Veterans Administration mortgage loans are made to qualified military veterans to purchase or refinance a home. VA loans are designed to help qualified veterans and their families obtain low-cost financing, making the dream of home ownership more accessible for those who have served our country. Park State Bank has a relationship with the VA that can help you obtain a Certificate of Eligibility for VA loans.

Here are the benefits and details of VA mortgage loans:

Competitive interest rates

No down payment required

No mortgage insurance required

All closing costs can be gifted

The seller may contribute up to 4 percent of the sales price toward the buyer's closing costs

Maximum loan amount is $417,000 with a VA guarantee of 25 percent

Must be for owner-occupied properties

Park State Bank In-House Mortgage Loans

Park State Bank offers mortgage loans through our in-house program. We lend for properties that are unique and may not qualify for outside financing. Under this program, all decisions about your loan are made locally by our own bankers.